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Tiffany To End Temporary Lease With Trump Organization February 23, 2021 (0 comments)
New York, NY—When Tiffany & Co. set out to remodel its storied flagship on Fifth Avenue in New York City, it leased temporary headquarters at 6 East 57th St., occupying the former Niketown store, a space under long-term lease to the Trump Organization. The 6 East building is around the corner from Trump Tower.
But when renovations at the jeweler’s flagship are complete next year, it will move back to its own home, leaving the 74,000-square foot retail space on 57thStreet vacant.
Related: Tiffany Betting On Experiences For Its New Flagship
While the Tiffany move was always planned and is not politically motivated, Crain’s New York Business points out in this article that luxury retail in midtown Manhattan was particularly hard hit during the pandemic and it could be a financial headache for the Trump Organization to fill the vast space amid surging retail vacancies in the area.